Several analysts have recently updated their ratings and price targets for CONMED Corporation (NASDAQ: CNMD):

  • 11/14/2017 – CONMED Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Despite exiting the third quarter CONMED on a promising note, declining sales from Orthopedic surgery is a concern. The company operates in a highly competitive environment, adding to our woes. Lower healthcare spending buoyed by the ongoing political conundrum in the U.S. healthcare space is a headwind. CONMED’s stock looks a little overvalued at the moment. However, the stock has outperformed the broader industry in terms of price performance year to date. Strength in General Surgery business on the back of strong performances by Advanced Surgical and Endoscopic Technologies buoys optimism. We are also upbeat about the favorable foreign exchange movements which drove third-quarter sales. Solid revenue guidance is indicative of brighter prospects. CONMED is also benefiting from the increasing trend of using minimally invasive techniques as a large percentage of the company’s products are designed for these procedures.”
  • 11/6/2017 – CONMED Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Despite exiting the third quarter CONMED on a promising note, declining sales from Orthopedic surgery is a concern. The company operates in a highly competitive environment, adding to our woes. Lower healthcare spending buoyed by the ongoing political conundrum in the U.S. healthcare space is a headwind. CONMED’s stock looks a little overvalued at the moment. However, the stock has outperformed the broader industry in terms of price performance year to date. Strength in General Surgery business on the back of strong performances by Advanced Surgical and Endoscopic Technologies buoys optimism. We are also upbeat about the favorable foreign exchange movements which drove third-quarter sales. Solid revenue guidance is indicative of brighter prospects. CONMED is also benefiting from the increasing trend of using minimally invasive techniques as a large percentage of the company’s products are designed for these procedures.”
  • 11/3/2017 – CONMED Corporation had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $46.00 price target on the stock.
  • 11/3/2017 – CONMED Corporation had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/31/2017 – CONMED Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Year-to-date, CONMED Corporation has outperformed the broader industry trends in terms of price performance. CONMED’s broad line of surgical products and several new devices including innovative sports medicine products, endo-mechanical offerings, a new electrosurgical council and the latest 2D Arthroscopy video system hold promise at the moment. With increased product offerings, the company can accelerate its top line in the quarters to come. On the flipside, foreign exchange movements have been unfavorably impacting the company’s results of late. Additionally, the company operates in a highly competitive environment which is likely to mar the top-line growth. Furthermore lower healthcare spending buoyed by the ongoing political conundrum in the U.S. healthcare space would mar CONMED’s top line.CONMED stock looks a tad overvalued at the moment.”

CONMED Corporation (NASDAQ CNMD) traded up $0.45 during midday trading on Tuesday, reaching $50.24. The company’s stock had a trading volume of 56,900 shares, compared to its average volume of 127,855. The firm has a market cap of $1,390.83, a P/E ratio of 28.45, a P/E/G ratio of 3.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.56. CONMED Corporation has a 52 week low of $39.74 and a 52 week high of $54.47.

CONMED Corporation (NASDAQ:CNMD) last released its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. CONMED Corporation had a return on equity of 8.40% and a net margin of 1.99%. CONMED Corporation’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. sell-side analysts anticipate that CONMED Corporation will post 1.87 EPS for the current fiscal year.

In other CONMED Corporation news, EVP Luke A. Pomilio sold 10,020 shares of CONMED Corporation stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.57, for a total value of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luke A. Pomilio sold 12,429 shares of CONMED Corporation stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $50.63, for a total value of $629,280.27. Following the completion of the transaction, the chief financial officer now directly owns 45,486 shares of the company’s stock, valued at $2,302,956.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,812 shares of company stock valued at $2,654,756. 2.62% of the stock is currently owned by corporate insiders.

CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

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